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Suppose you need to borrow $4,000 to take a vacation trip to Bangkok. The bank offers a 24-month instalment blan with an interest rate of

Suppose you need to borrow $4,000 to take a vacation trip to Bangkok. The bank offers a 24-month instalment blan with an interest rate of 8% ver vear. How much would vour monthly payment be? (3 marks)

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